Economy
October 20, 2013
Chinese GDP was 7.8% in Q3
Written by Sandy Williams
The Chinese economy grew 7.8 percent in the third quarter, compared to 7.5 percent in the second quarter and 7.7 percent in the first quarter. Growth for the first nine months of 2013 was 7.7 percent keeping China on target for a 7.5 percent GDP for the year.
According to the China National Bureau of Statistics, industrial production jumped 10.2 percent in September year-on-year supported by a “mini financial stimulus” by Premier Li Kegiang that increased spending on rail, energy and infrastructure. Spending which also increased demand for China’s steel and cement industries.
